La crisi, le sue origini e il prossimo futuro

Abstract

We briefly describe the evolution of the global process of capitalist accumulation during the neoliberal decades, to stress the “real causes” of the current crisis. This analysis leads to the search for a radical alternative to “austerity”, that is the economic policy approach tied to an interpretation of the crisis due to problems of “financial nature”. In our view, the political alternative to the neoliberal management of the crisis should be based on a large extension of education in the context of a “green” and “egalitarian” process of economic development. This requires a significant involvement of the public sector (in collaboration with private capitals) in providing the bases for economic growth, and a political support to an appropriate taxation of wealth (by now highly concentrated in a very small fraction of the population).

Galor O. (2006), “Inequality and the process of economic development”, in Salvadori N. (ed.), Economic Growth and Distribution. On the Nature and Causes of the Wealth of Nations, Edward Elgar, Cheltenham, UK, pp. 1-39.